SCHEDULE: Millennium Funds Boost ALX Oncology Stake to 6%

Millennium Management and affiliated entities, including Israel A. Englander, reported increasing their beneficial ownership in ALX Oncology Holdings Inc. to 6.0%.

Summary

• Millennium Management LLC, Millennium Group Management LLC, and Israel A. Englander collectively reported beneficial ownership of 3,188,196 shares of ALX Oncology Holdings Inc. Common Stock, representing 6.0% of the class.
• Integrated Core Strategies (US) LLC, an entity under the control of Millennium Management LLC, separately reported beneficial ownership of 2,730,504 shares, representing 5.1% of the class.
• The reporting persons share voting and dispositive power over their respective reported shares.
• This filing is an Amendment No. 1 to a Schedule 13G, indicating an update to previously reported beneficial ownership.
• The securities were acquired for investment purposes and not with the intent to change or influence control of the issuer.

Sentiment

Score: 7

Explanation: The increased beneficial ownership by a significant institutional investor is generally viewed as a positive signal, indicating confidence in the company's value or future potential, even though it's a passive investment.

Positives

• Increased beneficial ownership by a prominent institutional investor like Millennium Management can signal confidence in ALX Oncology Holdings Inc.'s future prospects.
• The significant stake (6.0%) by a well-known hedge fund group may attract further institutional interest in the company.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding ALX Oncology Holdings Inc.'s operational or financial performance.

Industry Context

Millennium Management is a major global investment firm. Their increased stake in ALX Oncology Holdings Inc., a biotechnology company, suggests a strategic investment within the life sciences sector, potentially indicating a positive view on the company's drug pipeline or market position within oncology.

Comparison to Industry Standards

• Not applicable as this filing is a beneficial ownership report, not an operational or financial performance report that would typically be benchmarked against industry standards or competitors.

Corporate Governance

Related Party Transactions

• Integrated Core Strategies (US) LLC, Millennium Management LLC, Millennium Group Management LLC, and Israel A. Englander are related entities under common control, filing jointly to report their aggregate beneficial ownership in ALX Oncology Holdings Inc.

Stakeholder Impact

• Shareholders may perceive the increased institutional ownership as a positive indicator of the company's investment attractiveness.
• The presence of a large, passive institutional investor typically does not directly impact employees, customers, suppliers, or creditors in the short term, as there is no stated intent to influence company operations or control.

Key Dates

Recommendation

Increased beneficial ownership by a prominent institutional investor like Millennium Management often signals confidence in the company's prospects. While this filing does not provide operational or financial performance details, the significant stake increase suggests a positive long-term view, warranting a 'hold' recommendation for existing investors. New investors might consider this a positive signal for further due diligence.

Keywords

ALX Oncology Holdings Inc., Millennium Management LLC, Israel A. Englander, Schedule 13G, Beneficial Ownership, Institutional Investment, Biotechnology, Oncology, Passive Investment